MegaFon Seeks Permit to Buy Euroset Stock, Russian Watchdog Says

OAO MegaFon, the Russian mobile operator controlled by billionaire Alisher Usmanov, has applied for regulatory approval to buy shares in phone retailer Euroset, Irina Kashunina, a spokeswoman for Russia’s Anti-Monopoly Service, said by telephone today.

MegaFon and Usmanov may acquire a 50 percent stake in Euroset from Alexander Mamut for about $1.3 billion, Kommersant reported Sept. 4, citing unidentified people. The other half of Euroset is owned by VimpelCom Ltd. (VIP) The retailer has more than 5,000 outlets in Russia.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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